Intuitive Surgical reported strong fourth-quarter results with significant revenue growth driven by increased procedure volumes and da Vinci system placements, particularly the new da Vinci 5 model. The company also saw a substantial increase in its installed base of surgical systems, indicating continued market expansion and adoption of its technology.
Worldwide procedures grew approximately 18% compared with the fourth quarter of 2024, with da Vinci procedures up 17% and Ion procedures up 44%.
positiveThe Company placed 532 da Vinci surgical systems, a 7.9% increase from 493 in the prior year, with a significant shift towards the new da Vinci 5 systems (303 vs 174).
positiveDa Vinci surgical system installed base grew 12% year-over-year to 11,106 systems.
positiveRevenue increased 19% to $2.87 billion compared to $2.41 billion in the fourth quarter of 2024.
positiveGAAP net income increased to $795 million, or $2.21 per diluted share, from $686 million, or $1.88 per diluted share, in the prior year.
positiveNon-GAAP net income increased to $914 million, or $2.53 per diluted share, from $805 million, or $2.21 per diluted share, in the prior year.
positiveIon procedure growth, while strong at 44%, is from a smaller base and the number of Ion system placements decreased to 42 from 69 in the prior year.
attentionThe company expects da Vinci procedure growth to decelerate to approximately 13% to 15% in 2026, down from 18% in 2025.
attentionNon-GAAP gross profit margin is expected to be between 67% and 68% in 2026, a slight decrease from 67.6% in 2025, impacted by an estimated 1.2% from tariffs.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Instruments and accessories | $1658300.0B | $1411500.0B | +17.5% | 57.9% |
Systems | $785900.0B | $654600.0B | +20.1% | 27.4% |
Services | $422000.0B | $347400.0B | +21.5% | 14.7% |
| Total Revenue | $2866200.0B | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.
Worldwide procedures (da Vinci and Ion combined) grew approximately 18% compared with the fourth quarter of 2024.
The Company placed 532 da Vinci surgical systems, compared with 493 in the fourth quarter of 2024. The fourth quarter 2025 da Vinci surgical system placements included 303 da Vinci 5 systems, compared with 174 in the fourth quarter of 2024.
Fourth quarter 2025 revenue of $2.87 billion increased 19% compared with $2.41 billion in the fourth quarter of 2024.
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Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.